Newt Gingrich, speaking to the Georgia Republican Party Convention, will outline a bold job creation plan to win the future, one fundamentally different than the "too little-too late" big government policies of the Obama administration.
Gingrich will point out that the average length of recession since World War II has lasted just ten months and that historically, the worse the downturn, the stronger the recovery. Yet forty months after the recession started, we are still at 9% unemployment (16% counting the underemployed), the longest stretch of such high unemployment since the Great Depression.
"Part of what makes America exceptional is a dynamic, entrepreneurial spirit that has made the American economy the most resilient in the world. But big government taxes, regulations and bureaucracies are holding us back," said Gingrich.
"With the right pro-growth policies we can get the right results. America can once again be the number one place on the planet to invest and create jobs," Gingrich added.
Gingrich represented Georgia's 6th Congressional district for 20 years and helped build the Georgia Republican Party from a minority in state and federal office representation to the majority it is today. He has been active in shaping Georgia Republican Party politics for over forty years.
"I look forward to being with my many friends today in Macon," said Gingrich.
Gingrich will also criticized President Obama as a "permanent candidate" more interested in scoring political points than getting things done.
"From jobs, to the deficit, to our broken immigration system, our country faces real challenges that will require us to come together as Americans," said Gingrich. "But President Obama has made it clear he is more interested in distorting Republican ideas and scaring Americans than actually solving problems."
The Gingrich Jobs and Prosperity Plan includes:
1. Stop the 2013 tax increases to promote stability in the economy. Job creation moved from stagnant to improving in the three months after Congress extended tax relief for two years. We should continue what has worked by making the rates permanent.
2. Make the United States the most desirable location for new business investment through a bold series of tax cuts, including: Eliminating the capital gains tax to make American entrepreneurs more competitive against those in other countries; Dramatically reducing the corporate income tax (the highest in the world) to 12.5%; Allowing for 100% expensing of new equipment to spur innovation and American manufacturing; Ending the death tax permanently.
3. Move toward an optional flat tax of 15% that would allow Americans the freedom to choose to file their taxes on a postcard, saving hundreds of billions in unnecessary costs each year.
4. Strengthen the dollar by returning to the Reagan-era monetary policies that stopped runaway inflation and reforming the Federal Reserve to promote transparency.
5. Remove obstacles to job creation imposed by destructive and ineffective regulations, programs and bureaucracies. Steps include: Repealing the Sarbanes-Oxley Act, which did nothing to prevent the financial crisis and is holding companies back from making new investments in the U.S; Repealing the Community Reinvestment Act, the abuse of which helped cause the financial crisis; Breaking up Fannie Mae and Freddie Mac, moving their smaller successors off government guarantees and into the free market; Replacing the Environmental Protection Agency with an Environmental Solutions Agency that works collaboratively with local government and industry to achieve better results; and Modernizing the Food and Drug Administration to get lifesaving medicines and technologies to patients faster.
6. Implement an American energy policy that removes obstacles to responsible energy development and creates jobs in the United States.
7. Balance the budget by growing the economy, controlling spending, implementing money saving reforms, and replacing destructive policies and regulatory agencies with new approaches.
8. Repeal and replace Obamacare with a pro-jobs, pro-responsibility health plan that puts doctors and patients in charge of health decisions instead of bureaucrats.
9. Fundamental reform of entitlement programs with the advice and help of the American people.